Forex reserves up $2.67 bn to $366.78 bn

Madhavan M.J Updated - January 15, 2018 at 12:06 PM.

rbi-forex-reserve

India’s foreign exchange reserves surged by whopping $2.671 billion to $366.781 billion for the week ended March 2017 on account of increase in foreign currency assets, the Reserve Bank said today.

In the previous week, the reserves had risen by $98.6 million to $364.109 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, rose by $2.645 billion to $343.101 billion in the reporting week, the RBI said.

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non—US currencies, such as the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged at $19.914 billion.

The special drawing rights with the International Monetary Fund was up by $10 million to $1.444 billion; India’s reserve position with the Fund, too, increased by $15.9 million to $2.320 billion, RBI said.

Published on March 24, 2017 13:55